Published On: Thu, Sep 15th, 2016

KLX Inc. (KLXI) Shares Down 1.7%

KLX Inc. (NASDAQ:KLXI)’s share price fell 1.7% during trading on Wednesday . The company traded as low as $33.37 and last traded at $33.54, with a volume of 85,584 shares traded. The stock had previously closed at $34.12.
A number of brokerages have recently commented on KLXI. Deutsche Bank AG reduced their target price on shares of KLX from $39.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday, May 24th. Zacks Investment Research upgraded shares of KLX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Wednesday, May 18th. Jefferies Group reiterated a “hold” rating on shares of KLX in a research note on Friday, August 5th. Finally, KeyCorp upgraded shares of KLX from a “sector weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research note on Friday, June 17th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $36.78.
The stock’s market capitalization is $1.77 billion. The firm’s 50 day moving average is $34.86 and its 200 day moving average is $32.89.

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KLX (NASDAQ:KLXI) last issued its earnings results on Wednesday, August 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. KLX had a negative net margin of 26.66% and a positive return on equity of 3.83%. The business earned $391.40 million during the quarter, compared to analysts’ expectations of $402.30 million. Analysts anticipate that KLX Inc. will post $0.92 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of KLX during the fourth quarter worth $25,751,000. Citadel Advisors LLC acquired a new stake in shares of KLX during the second quarter worth $22,608,000. Fuller & Thaler Asset Management Inc. boosted its stake in shares of KLX by 20.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,142,493 shares of the company’s stock worth $128,417,000 after buying an additional 690,876 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of KLX by 1,154.8% in the first quarter. Prudential Financial Inc. now owns 510,385 shares of the company’s stock worth $16,405,000 after buying an additional 469,710 shares in the last quarter. Finally, First Pacific Advisors LLC boosted its stake in shares of KLX by 206.3% in the second quarter. First Pacific Advisors LLC now owns 594,620 shares of the company’s stock worth $18,433,000 after buying an additional 400,470 shares in the last quarter. Institutional investors and hedge funds own 99.44% of the company’s stock.
About KLX
KLX Inc (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. The Company operates through two segments: Aerospace Solutions Group (ASG) and Energy Services Group (ESG).

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